Clarification on delayed disclosure of RBI foreign exchange compounding

Consent Order AcceptedRegulatory & Legal View source PDF Explain this filing

SOMATEX · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹86.20

prior close

₹85.48

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-2.0% vs market

Other Textile Products peers, median of 193sector+0.0%-1.5% vs sector

On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 1.5 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.0

10m

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15m

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30m

-0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4+0.6-2.0+0.0-1.5

Next day

-6.6+0.4-6.9-0.1-6.4

-10.7+0.7-11.3+0.0-10.7

-6.9+1.0-7.9-0.2-6.7

-2.4-0.0-2.4-0.7-1.7

+2.5-0.6+3.1-0.9+3.4

+4.5+0.7+3.8+0.0+4.5

15d

-5.4-1.2-4.1-2.3-3.0

-6.3-0.9-5.4-2.7-3.6

-21.1-9.0-12.1-7.9-13.2

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UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 193Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Soma Textiles clarified to BSE that it disclosed the RBI compounding order promptly after settlement. The company paid a compounding fee of about Rs 55.2 lakh (one cheque of Rs 46 lakh plus two cheques of Rs 4.6 lakh each by directors) to RBI on May 29, 2024 for contravention of Foreign Exchange provisions. RBI acknowledged receipt on May 30, 2024, and the company intimated the stock exchange within 24 hours.

Likely market impact

Matter already settled with RBI in May 2024 with penalty paid. Minor compliance clarification to the exchange, no ongoing risk.